South Lake Tahoe Weekly Market Update

As of July 29th, 2009, I began adding Condos to the market statistics. What you are looking at below are charts and numbers derived from the South Tahoe Association Of Realtors Multiple Listing Service for Single Family Homes and Condos. The reason that I use this segment of the market is that it has the most influence on the general value trend.

The buyer activity remains at a healthy pace.  To measure the most current buyer activity, I use the Market Activity Ratio which is the relationship between Active listings and Pending sales.  This past week, we saw the ratio increase again from 20.5% to 21.03%.  This is the result of the Active inventory increasing by 11 as the pending sales increased by 7.  The distress sale inventory increased slightly from 24.3% to 25% and the pending distress sales also increased from 63.5% to 64.1%.  It's interesting to note that in January 2009 there were 36 pending sales in escrow, Jan. 2010 there were 65 and Jan. 2011 there were 72.   Every year since 2008, sales have been on the increase.  The government is now talking about withdrawing it's influence from the real estate market.  Is it too soon?

There were 7 new sales this past week for a YTD of 53 sales.  These sales occurred mostly under $3500,000 with 4 sales above that.  The top two sales were White Sands Dr for $799,900 and Lupine Trl for $999,000.  This did increase the 6 month average sales price for the second consecutive week to $370,293.  The average days on market are 156 days.

Listings per Status